POSCO, the Next-Generation Key Product Following Automotive Steel Sheets?

[Asia Economy Reporter Park Soyeon] POSCO has announced its intention to foster construction steel materials as the next-generation core product following automotive steel sheets.

The company aims to advance the steel construction materials market by diversifying the use of high-quality steel materials throughout the construction industry.

This strategy is interpreted as one of the measures to overcome the adverse effects on the steel industry, a downstream sector, caused by the impact of the COVID-19 pandemic on the automotive industry.

Steel construction materials refer to steel products used in constructing buildings, houses, and infrastructure such as roads and bridges.

Earlier, POSCO launched 'INNOVILT,' an integrated brand for steel construction materials, in November last year to actively promote steel premiumization in the construction materials market. In March, it opened 'The Sharp Gallery,' a POSCO Group-level exhibition hall for steel construction materials and architecture in Gangnam-gu, Seoul.

POSCO plans to specialize the steel construction materials business by group companies and maximize business capabilities through collaboration.

POSCO A&C will comprehensively handle all stages of construction including planning, design, construction, supervision, and aftercare, and develop new businesses applying modular construction methods to lead a new architectural paradigm.

POSCO Engineering & Construction will identify projects where steel construction materials can be applied and use POSCO’s steel construction materials known for their stability and technological excellence.

POSCO International will expand its specialized construction business as a comprehensive construction materials company, and POSCO Steel Plate will focus on steel interior and exterior construction businesses such as PosART.

To strengthen the steel construction materials value chain, POSCO plans to nurture small and medium-sized manufacturers and construction companies into strong enterprises.

It will discover manufacturers and construction companies with excellent technology and high growth potential, provide opportunities to participate in POSCO Group’s steel construction materials business, and systematically support the technological advancement of SMEs through initiatives such as operating a steel construction materials academy.

POSCO is already growing together with customers by jointly developing products in the steel construction materials market. For example, the steel curtain wall of NI Steel, a construction materials manufacturer, is a product jointly developed by POSCO and its customers.

A POSCO official said, "We will further strengthen co-growth with SMEs in the steel construction materials market and advance the steel construction materials business by nurturing strong enterprises."

This content was produced with the assistance of AI translation services.